Oil and natural gas daily review (November 24, 2010)

MARKET ROUNDUP Crude Oil OIL prices slipped yesterday in choppy trading as fears of an escalating euro zone crisis and a North Korean attack on a South Korean island triggered a rally in the dollar, though buyers returned when oil fell to a session low near $80, which limited losses. IN FOCUS - U.S. crude inventories surged unexpectedly last week, while product stocks declined, the American Petroleum Institute (API) said on Tuesday. - OPEC is not likely to change its production quotas at its next meeting in December in Ecuador if oil prices remain at current levels, Qatari Energy Minister Abdullah al- Attiyah said on Tuesday. - Italy's energy major Eni will continue to receive Iranian crude for at least another three years as Tehran still owes the company about $1 billion from decadeold deals, ENI's chief executive said. - ConocoPhillips COP confirmed on Tuesday it restarted its 238,000 barrel-per-day Bayway refinery in Linden, New Jersey Continue reading the article.